The continuing budget crisis in the largest state in America has led to extensive cuts to fund public schools and colleges in California, including UC higher education system. State funding for public universities are limited and there will be very little hope to recover in years to come as America’s economy remains weak.
On Thursday afternoon, June 7, the UCLA’s faculty leaders voted 53-46, with three people voted absents, to support a controversial plan to stop receiving state funding, as reported by dailybruin.com. The world’s top-25 MBA program will stop taking state fund and hoping to survive on tuition fees, fundraising and donations.
The change may start a trend of privatization of public universities in America, especially for professional, business and law schools. Those programs could charge high tuitions and get some wealthy alumni to donate their fortunes.
UCLA Anderson school dean, Judy Olian, is the forefront person of the plan. After winning the votes, Olian is now working hard to get approvals from the UC Office of the President, as reported by latimes.com.
Many top business schools in America such as Harvard, Stanford, USC, rely heavily on students’ tuition, alumni donations and organization gifts. The latest move to be financially independent will help Anderson to compete in term of more innovative teaching methods and freely to collaborate with other institutions. It will be good for Anderson as it will compete with other top-25 business schools to get the best potential students from around the world.
(Image: UCLA logo)